Finland: Ship Propeller Market 2025

Ship Propeller Market Size in Finland

The Finnish ship propeller market soared to $X in 2022, surging by 17% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Ship Propeller Production in Finland

In value terms, ship propeller production declined to $X in 2022 estimated in export price. Over the period under review, production, however, posted modest growth. The pace of growth appeared the most rapid in 2019 with an increase of 147%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Ship Propeller Exports

Exports from Finland

In 2022, approx. X tons of ships’ or boats’ propellers and blades therefor were exported from Finland; waning by -52.3% compared with 2021 figures. Overall, exports, however, recorded a pronounced increase. The pace of growth appeared the most rapid in 2018 with an increase of 117%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, ship propeller exports shrank remarkably to $X in 2022. Over the period under review, exports, however, showed temperate growth. The pace of growth appeared the most rapid in 2019 when exports increased by 108%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons), Norway (X tons) and Russia (X tons) were the main destinations of ship propeller exports from Finland, with a combined 59% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +150.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ship propeller exported from Finland were Denmark ($X), the United States ($X) and Norway ($X), together accounting for 66% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +129.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ship propeller export price amounted to $X per ton, declining by -6.8% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 12% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+36.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ship Propeller Imports

Imports into Finland

Ship propeller imports into Finland surged to X tons in 2022, picking up by 18% compared with the previous year's figure. In general, imports recorded a mild expansion. The pace of growth appeared the most rapid in 2019 with an increase of 41%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, ship propeller imports amounted to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 33% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of ship propeller to Finland, accounting for a 57% share of total imports. Moreover, ship propeller imports from Spain exceeded the figures recorded by the second-largest supplier, Portugal (X tons), fourfold. The third position in this ranking was taken by Norway (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-11.4% per year) and Norway (+4.9% per year).

In value terms, Spain ($X) constituted the largest supplier of ships’ or boats’ propellers and blades therefor to Finland, comprising 56% of total imports. The second position in the ranking was held by Portugal ($X), with a 15% share of total imports. It was followed by the United States, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-10.7% per year) and the United States (+12.0% per year).

Import Prices by Country

The average ship propeller import price stood at $X per ton in 2022, declining by -6.5% against the previous year. In general, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 83% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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